How to open an account with PayPal?
By DoctorDidi
@DoctorDidi (7018)
India
December 17, 2010 12:05am CST
As per terms and conditions of mylot.com, I have to open an account with PayPal to draw my earnings from mylot.com but unfortunately I have no idea of PayPal so far. Can anybody advise me how to open an account with PayPal? I also want to know whether it is secured and whether I need a credit or debit card for the purpose.
2 people like this
22 responses
@getbiswa2000 (5544)
• India
17 Dec 10
From the username you've chosen I guess you're an Indian and may even be a Bengali. I am telling you all these things because the rules for Paypal differs from country to country. In India there are some guidelines set by RBI that even Paypal has to follow in order to operate in domestic market. Now to open a Paypal account you'll primarily need two things, your PAN card and a mobile number. It's more like opening a new email id or a blogger account. Just put genuine information and you'll have an account as soon as you press submit button.
The next step is to connect it to your bank account and then verify it. Once you put the IFSC code, bank name etc in Paypal the Paypal will send two small amounts to your bank account. You will have to update your book and write down the exact amount transferred back in your Paypal account. Then your bank account is linked with your Paypal account. You can also put link your credit card with your Paypal account. Just enter the credit card number and two very small amounts will be deducted from your credit card. The verification goes in similar way.
However, after linking your bank account/credit card with your Paypal account, you may need to submit some photo ID. Just scan your voter ID/Passport/Driving license or anything of that sort and upload the image in your Paypal account. You can also take pictures with the camera in your mobile and then upload the images. The account get verified within 24-48 hours.
It's actually easier than what it sounds to be.
2 people like this
@getbiswa2000 (5544)
• India
17 Dec 10
@robingrg64
It seems that the guys who are really laundering the money usually prefer the swiss bank. lolzzz
1 person likes this
@getbiswa2000 (5544)
• India
26 Dec 10
Just go to your bank and ask them about IFSC thing. This is a unique code to identify the bank and the branch globally. If asked by Paypal, you can submit the scanned copies.
@DoctorDidi (7018)
• India
26 Dec 10
Hello,getbiswa2000, you have guessed the right. But tell me one thing. What do you mean by IFSC code? I have no credit card,only a debit card. Will it do? Also, will I have to send scanned photograph of my PAN Card online?
@youless (112481)
• Guangzhou, China
17 Dec 10
Just register a Paypal account and then provide your credit card and bank information to Paypal. As they need it to verify your account. After that, you can withdraw money from your Paypal account and transfer it to your bank account. I am not afraid of the security of Paypal. Actually you can set a very complicated password. And Paypal is one of the most popular payment methods in the world and it shall have enough protection to its users. So I am not worried about it.
I love China
@DoctorDidi (7018)
• India
26 Dec 10
But I have no credit card, I have, of course, a debit card. Will it serve the purpose?
@ErrollLeVant (4353)
• United States
17 Dec 10
I have mine linked to my bank account and I transfer funds into my checking account with no fees. Paypal is easy and safe to use.
1 person likes this
@vicky30 (4766)
• India
17 Dec 10
Hello DoctorDidi,
Just type paypal.com in your browser and sign up for a personal paypal account.They might ask you your pan card number before your register for an account.It is secured to keep money in paypal.
If you need to transfer funds you will need to link paypal with your indian bank account.Then you can transfer your dollars into indian rupees in your bank.Since you are giving your bank details Do not respond to any mail asking for debit card no and internet banking passwords
You need a credit or debit card to get a verified paypal account but it is not compulsory.
@DoctorDidi (7018)
• India
26 Dec 10
Thanks for making me aware of any fraud. You have mentioned of 'a verified paypal account'. Let me know what are the advantages of a verified paypal account and what are the disadvantages if it is not verified.
@abhaijith (2963)
• India
17 Dec 10
Friend,
Paypal is an Online banking system and yeah, its Safe.You can star an account for free.And no need of credit/debit cards,unless you verify the account.
Now Paypal is linked with Reserve Bank of India and the transactions in more safe and transparent.
Good Luck friend.
1 person likes this
@DoctorDidi (7018)
• India
19 Mar 11
What is the disadvantage if I do not verify the account? Will it cause any problem to me in the future?
@louievill (28851)
• Philippines
17 Dec 10
go directly to the paypal site, www.paypal.com and create an account,it's free and easy, just make sure you are on the legit site , you will see a green security seal on your browser that says paypal US, careful not to enter your info on any site that pretends to be paypal, if you have problems signing up , just pm me
1 person likes this
@DoctorDidi (7018)
• India
26 Dec 10
This means the 'green security seal' on the browser shows its authencity. But I am an Indian, so would paypal US serve my purpose or is there any branch site of paypal which is earmarked for us,Indians ?
@Hatley (163776)
• Garden Grove, California
17 Dec 10
hi just go to pay pal get set up with user name and p assword, then ask for help from a paypal adminds and they are just great they will walk
you through the whole process and make it clear how to use paypal and it is all very easy once she shows you the steps.
1 person likes this
@dorannmwin (36392)
• United States
20 Dec 10
In order to open a paypal account all you have to do is to have an email address. However, in order to be able to move the money into your checking account you do have to be able to provide them with your bank account information. My husband and I verified our paypal account many years ago and there has been no problem at all with it. In fact, I've actually transferred money between our checking account and the paypal account many times and I've never had any kind of problem at all with doing it.
@jak2010 (1550)
• Papua New Guinea
20 Dec 10
Paypal is th emost secured e-money tranfer facility available. You can either directly log on by typing paypal on the broswer of your internet broswer and register your account there or when you sign up with a site like mylot, you can you link provided to sign up. The email account you supplied to paypal will used for any site you work to have your funds transfered there. The email addres and password with paypal are important two things that must not be known to other people.
@jackjill123 (405)
• India
26 Dec 10
It is very easy to open a PayPal account on internet. Go to www.paypal.com.Then you register and fill some info which that accounts required. PayPal is free and safe.
@superlines (374)
• United States
17 Dec 10
Hi doctor didi,
From your username i think you are an indian, Yes sure paypal is the most secured site on net. You can open an account with paypal but because you are an indian you need pan card to open a account without that you will not be able to open an account in paypal thats what i think.
You can also connect your bank account to paypal and hence you can transfer the money from the paypal account to your bank account and vice versa.
Have a nice day.
1 person likes this
@love4kolkata (279)
• India
11 Jan 11
just go to paypal.com and sign up. Its like a normal site. At first dont give your credit card or debit card inof if you are confused. when in mylot you will reach the limit, that time you can provide the credit or debit info in paypal. Paypal is the most secure money transacion site. So dont worry.
@akkibomb007 (520)
• Virar, India
17 Dec 10
Go to www.paypal.com and choose account type as Personal.
Its free to do so.
@JudgeIronFist (2472)
• Singapore
17 Dec 10
Don't worry there. Paypal is trusted and established for many years, opening an account with them is very simple. It's just like opening an account with any other sites. After signing up, if you decide that your earnings have to be transferred to your bank account, then you verify with them at the top of your account. Hope this helped you!
@kingparker (9673)
• United States
17 Dec 10
When I sign up with paypal, there is no requirement of credit card, or anything. When I subscribe my account with paypal, the only information I provided is my email address. Later on, I just added my checking account number to connect to paypal, and had paypal send the money directly to my checking whenever I earned money there. That is all.
@tkonlinevn (6438)
• Vietnam
18 Dec 10
It's very simple to open an account on Paypal. But if you want to withdraw your money to bank, you must verified it. You can read this page before beginning https://www.paypal.com/vn/cgi-bin/helpweb?cmd=_help
@nicregi (1934)
• Malaysia
17 Dec 10
Hi there.
Wow I am surprised. PayPal is one of the leading and most secured online banking services (or whatever you call it ;D ) that I have came across. Of course, PayPal is free and secure. Just set up a personal payment and you will on your way to cash out.
You would need to verify your account with PayPal before you can cash out (pardon me if I am wrong) by either verify using a credit or debit card.
Hope this helps!
@yoniarnon (1079)
• Israel
17 Dec 10
Hi Doc, i use PayPal for like half of a year. It is very easy and nice to use..
It is very secure, no one touch my money there :)
You can ask them to send you your money to your bank but for this you need to give some details, i didn't fill this, but i am using my PayPal account to buy things from eBay, it is cool and working...
Just enter here: www.paypal.com
Press create a new account, fill the blanks
and don't forget to enter My Lot you PayPal mail after you done log in to PayPal...